BLACKBAUD INC Earnings Per Share Disclosure
5. Earnings (Loss) Per Share | ||
| Years ended December 31, | |||||||||||
| (dollars in thousands, except per share amounts) | 2025 | 2024 | 2023 | ||||||||
Numerator: | |||||||||||
Net income (loss) | $ | 114,970 | $ | (299,524) | $ | 3,018 | |||||
Denominator: | |||||||||||
Weighted average common shares | 47,680,184 | 50,560,538 | 52,546,406 | ||||||||
Add effect of dilutive securities: | |||||||||||
Restricted stock and units | 789,777 | — | 1,174,936 | ||||||||
Weighted average common shares assuming dilution | 48,469,961 | 50,560,538 | 53,721,342 | ||||||||
Earnings (loss) per share | |||||||||||
Basic | $ | 2.41 | $ | (5.92) | $ | 0.06 | |||||
Diluted | $ | 2.37 | $ | (5.92) | $ | 0.06 | |||||
Anti-dilutive shares excluded from calculations of diluted earnings (loss) per share | 621,562 | 54,236 | 45,614 | ||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 18, 2026 | Showing above |
| 2024 | Feb 21, 2025 | |
| 2023 | Feb 21, 2024 | |
| 2022 | Feb 24, 2023 | |
| 2021 | Mar 1, 2022 | |
| 2020 | Feb 23, 2021 | |
| 2019 | Feb 20, 2020 | |
| 2018 | Feb 20, 2019 | |
| 2017 | Feb 20, 2018 | |
| 2016 | Feb 22, 2017 | |
| 2015 | Feb 24, 2016 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.